Tag: mortgage arrears
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Why are Buy to Let Mortgages being allowed fester?
The mortgage crisis is the rancid gift that keeps on oozing. The publication this week by the Department of Finance of mortgage arrears figures highlights the festering lethargy that has characterised much of the Irish response to the financial crisis. That it publishes slightly different figures on the same issue as the central bank highlights the embedded…
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Irish Banks failure to deal with BTL mortgage arrears gives scant hope for the future.
This is a expanded version of my column with the Irish Examiner of October 12 2013. With the budget around the corner we are hearing soothing noises all round about the economy. Apparently things are grand, or about to be. We are to be grateful that in an inversion of 1 Kings 12:11 we are…
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Someone needs to define affordability in mortgages
This is a version of a column which appeared in the Irish Examiner 14 September 2013 Since the appearance of the banks before the oireachtas committees last week we have seen a lot of discussion on the mortgage issue. Like the poor, speculation about mortgages will always be with us it seems. A vexed element…
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Strategic Defaults in Irish Mortgages – What do and dont we know?
Irish residential and Buy to let mortgages are in a mess. The latest Central Bank data indicate that by value 16.5% of all residential mortgages are in arrears accounting for 12.3% of all mortgages. The charts below show the evolution of this situation. Note that these are only for residential mortgages. Buy to Let are a…